Vinci Offers $6.1 Billion for Spanish ACS’s Industrial Unit
Vinci Offers $6.1 Billion for Spanish ACS’s Industrial Unit. (Bloomberg) -- French builder and toll-road giant Vinci SA is in talks to acquire the industrial division of Spain’s Actividades de Construccion y Servicios for about 5.2 billion euros ($6.1 billion) in a move to bolster its energy and utility-services business. The Madrid-based company received a non-binding offer from Vinci for the unit that operates eight concessions and develops renewable-energy projects, according to an ACS filing Friday. The acquisition would be its most significant deal since agreeing to acquire a majority stake in Gatwick Airport in 2018. If Vinci succeeds in clinching the deal, the assets “would offer some diversification away from the Covid-19 related volume impact across its transport infrastructure networks,” Citigroup analysts wrote in a note, citing the expected slow recovery in the airline sector.